Hamburg: Etihad Credit Insurance (ECI) has inked two Memorandums of Understanding (MoUs) with Saudi EXIM Bank and Credit Oman during its participation at the Annual General Meeting of Berne Union in Hamburg, Germany. These agreements aim to enhance regional collaboration in insurance and risk management, focusing on trade credit insurance and financial services to boost UAE's export sector. According to Emirates News Agency, the MoUs address multiple aspects of cooperation including conventional and Murabaha trade credit insurance, which offers protection against commercial and non-commercial risks to UAE exporters. This includes insurance against individual buyer risks, supply risks, export financing, debt sales, SME financing, confirmation of letters of credit, and corporate finance. Raja Al Mazroui, CEO of ECI, emphasized that the partnerships are a significant step towards enhancing the export credit system and boosting foreign trade and investment prospects. "These agreements underscore ECI's commitmen t to strengthen collaboration and forge alliances with leading regional institutions in the credit sector," Al Mazroui stated. She added that this would not only build confidence in the local export system, but also help introduce Emirati products to a wider global market and solidify UAE's position as a key hub for international trade and investment. On his part, Saad bin Abdulaziz Al-Khalb, CEO of Saudi EXIM Bank, highlighted the strategic importance of the MoU in opening new trade and investment avenues between Saudi Arabia and the UAE. "We aim to enhance the export and import sector, develop business and investment opportunities, and support commercial projects in ways that benefit economic growth in both countries," Al-Khalb explained. Sheikh Khalil bin Ahmed Al-Harthy, CEO of Credit Oman, also expressed enthusiasm about the partnership. "The latest MoU with Etihad Credit Insurance demonstrates our commitment to strengthening regional cooperation in the fields of insurance and risk management," Al-Hart hy commented. Furthermore, the agreements include provisions for joint participation in conferences, meetings, seminars, and workshops to emphasize the benefits of trade protection solutions against non-payment risks. They also call for the submission of reports on market or country risks to spotlight commercial risks linked to international trade.